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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Measurement Amounts For Assets And Liabilities

The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral which is disclosed in Note 14. See Note 15 for additional information related to investments by major security type.



	December 31, 2015
(in millions)	Total Fair Value			Level 1		Level 2			Level 3		Not categorized
Nuclear decommissioning trust fund equity securities	$	3,590		$	3,418	$	—		$	—	$	172
Nuclear decommissioning trust fund debt securities	2,227			672		1,555			—
Other available-for-sale equity securities	95			95		—			—		—
Other available-for-sale debt securities	302			75		222			5
Derivative assets	26			—		16			10
Total assets	6,240			4,260		1,793			15		172
Derivative liabilities	(419		)	—		(419		)	—
Net assets	$	5,821		$	4,260	$	1,374		$	15	$	172



	December 31, 2014
(in millions)	Total Fair Value			Level 1			Level 2			Level 3			Not categorized
Nuclear decommissioning trust fund equity securities	$	3,650		$	3,493		$	6		$	—		$	151
Nuclear decommissioning trust fund debt securities	1,899			648			1,251			—
Other trading and available-for-sale equity securities	96			96			—			—			—
Other trading and available-for-sale debt securities	263			41			217			5
Derivative assets	110			49			24			37
Total assets	6,018			4,327			1,498			42			151
Derivative liabilities	(668		)	(162		)	(468		)	(38		)
Net assets	$	5,350		$	4,165		$	1,030		$	4		$	151

Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs

The following tables provide reconciliations of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements. Amounts included in earnings for derivatives are primarily included in Operating Revenues.



	December 31, 2015
			Derivatives
(in millions)	Investments		(net)			Total
Balance at beginning of period	$	5	$	(1	)	$	4
Total pretax realized or unrealized gains (losses) included in earnings	—		21			21
Purchases, sales, issuances and settlements:
Purchases	—		24			24
Sales	—		(1		)	(1		)
Settlements	—		(37		)	(37		)
Total gains included on the Consolidated Balance Sheet as regulatory assets or liabilities	—		4			4
Balance at end of period	$	5	$	10		$	15



	December 31, 2014
				Derivatives
(in millions)	Investments			(net)			Total
Balance at beginning of period	$	20		$	13		$	33
Total pretax realized or unrealized gains (losses) included in earnings	—			(7		)	(7		)
Purchases, sales, issuances and settlements:
Purchases	—			50			50
Sales	(15		)	—			(15		)
Settlements	—			(54		)	(54		)
Net transfers In (Out) of Level 3 due to observability of inputs	—			6			6
Total losses included on the Consolidated Balance Sheet as regulatory assets or liabilities	—			(9		)	(9		)
Balance at end of period	$	5		$	(1	)	$	4
Pretax amounts included in the Consolidated Statements of Comprehensive Income related to Level 3 measurements outstanding	$	—		$	(14	)	$	(14	)

Schedule of Long-term debt, including current

The fair value and book value of long-term debt, including current maturities, is summarized in the following table. Estimates determined are not necessarily indicative of amounts that could have been settled in current markets. Fair value of long-term debt uses Level 2 measurements.



	December 31, 2015				December 31, 2014
(in millions)	Book Value		Fair Value		Book Value		Fair Value
Duke Energy	$	39,569	$	42,537	$	39,868	$	44,566
Duke Energy Carolinas	8,367		9,156		8,353		9,626
Progress Energy	14,464		15,856		14,668		16,951
Duke Energy Progress	6,518		6,757		6,170		6,696
Duke Energy Florida	4,266		4,908		4,823		5,767
Duke Energy Ohio	1,598		1,724		1,760		1,970
Duke Energy Indiana	3,768		4,219		3,769		4,456

Quantitative Information Table - Level 3

The following table includes quantitative information about the Duke Energy Registrants' derivatives classified as Level 3.



	December 31, 2015
	Fair Value
Investment Type	(in millions)		Valuation Technique	Unobservable Input	Range
Duke Energy
Financial transmission rights (FTRs)	$	10	RTO auction pricing	FTR price – per Megawatt-Hour (MWh)	$	(0.74	)	-	7.29
Duke Energy Ohio
FTRs	$	3	RTO auction pricing	FTR price – per MWh	$	0.67		-	2.53
Duke Energy Indiana
FTRs	$	7	RTO auction pricing	FTR price – per MWh	$	(0.74	)	-	7.29



	December 31, 2014
	Fair Value
Investment Type	(in millions)			Valuation Technique	Unobservable Input	Range
Duke Energy
Natural gas contracts	$	(5	)	Discounted cash flow	Forward natural gas curves – price per Million British Thermal Unit (MMBtu)	$	2.12		-	4.35
FTRs	14			RTO auction pricing	FTR price – per MWh	(1.92		)	-	9.86
Electricity contracts	(1		)	Discounted cash flow	Forward electricity curves – price per MWh	25.16			-	51.75
Commodity capacity option contracts	2			Discounted cash flow	Forward capacity option curves – price per MW day	21.00			-	109.00
Reserves	(11		)		Bid-ask spreads, implied volatility, probability of default
Total Level 3 derivatives	$	(1	)
Duke Energy Ohio
Electricity contracts	$	(6	)	Discounted cash flow	Forward electricity curves – price per MWh	$	25.25		-	51.75
Natural gas contracts	(5		)	Discounted cash flow	Forward natural gas curves – price per MMBtu	2.12			-	4.35
Reserves	(7		)		Bid-ask spreads, implied volatility, probability of default
Total Level 3 derivatives	$	(18	)
Duke Energy Indiana
FTRs	$	14		RTO auction pricing	FTR price – per MWh	$	(1.92	)	-	9.86

Duke Energy Carolinas [Member]

Fair Value Disclosures [Line Items]

Fair Value Measurement Amounts For Assets And Liabilities

The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral, which is disclosed in Note 14. See Note 15 for additional information related to investments by major security type.



	December 31, 2015
(in millions)	Total Fair Value			Level 1		Level 2			Level 3		Not categorized
Nuclear decommissioning trust fund equity securities	$	2,094		$	1,922	$	—		$	—	$	172
Nuclear decommissioning trust fund debt securities	944			246		698			—
Other available-for-sale debt securities	3			—		—			3
Total assets	3,041			2,168		698			3		172
Derivative liabilities	(45		)	—		(45		)	—
Net assets	$	2,996		$	2,168	$	653		$	3	$	172



	December 31, 2014
(in millions)	Total Fair Value			Level 1		Level 2			Level 3		Not categorized
Nuclear decommissioning trust fund equity securities	$	2,162		$	2,005	$	6		$	—	$	151
Nuclear decommissioning trust fund debt securities	870			138		732			—
Other trading and available-for-sale debt securities	3			—		—			3
Total assets	3,035			2,143		738			3		151
Derivative liabilities	(19		)	—		(19		)	—
Net assets	$	3,016		$	2,143	$	719		$	3	$	151

Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs

The following tables provide a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements. There was no change to the Level 3 balance during the year ended December 31, 2015.



	December 31, 2014
			Derivatives
(in millions)	Investments		(net)			Total
Balance at beginning of period	$	3	$	(2	)	$	1
Settlements	—		2			2
Balance at end of period	$	3	$	—		$	3

Progress Energy [Member]

Fair Value Disclosures [Line Items]

Fair Value Measurement Amounts For Assets And Liabilities

The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral, which is disclosed in Note 14. See Note 15 for additional information related to investments by major security type.



	December 31, 2015
(in millions)	Total Fair Value			Level 1		Level 2			Level 3
Nuclear decommissioning trust fund equity securities	$	1,496		$	1,496	$	—		$	—
Nuclear decommissioning trust fund debt securities	1,283			426		857			—
Other available-for-sale debt securities	63			18		45			—
Derivative assets	11			—		11			—
Total assets	2,853			1,940		913			—
Derivative liabilities	(322		)	—		(322		)	—
Net assets	$	2,531		$	1,940	$	591		$	—



	December 31, 2014
(in millions)	Total Fair Value			Level 1		Level 2			Level 3
Nuclear decommissioning trust fund equity securities	$	1,488		$	1,488	$	—		$	—
Nuclear decommissioning trust fund debt securities	1,029			510		519			—
Other trading and available-for-sale debt securities	58			15		43			—
Derivative assets	4			—		4			—
Total assets	2,579			2,013		566			—
Derivative liabilities	(373		)	—		(373		)	—
Net assets	$	2,206		$	2,013	$	193		$	—

Duke Energy Progress [Member]

Fair Value Disclosures [Line Items]

Fair Value Measurement Amounts For Assets And Liabilities



	December 31, 2015
(in millions)	Total Fair Value			Level 1		Level 2			Level 3
Nuclear decommissioning trust fund equity securities	$	1,178		$	1,178	$	—		$	—
Nuclear decommissioning trust fund debt securities and other	860			141		719			—
Other available-for-sale debt securities and other	1			1		—			—
Derivative assets	2			—		2			—
Total assets	2,041			1,320		721			—
Derivative liabilities	(98		)	—		(98		)	—
Net assets	$	1,943		$	1,320	$	623		$	—



	December 31, 2014
(in millions)	Total Fair Value			Level 1		Level 2			Level 3
Nuclear decommissioning trust fund equity securities	$	1,171		$	1,171	$	—		$	—
Nuclear decommissioning trust fund debt securities and other	540			151		389			—
Total assets	1,711			1,322		389			—
Derivative liabilities	(132		)	—		(132		)	—
Net assets	$	1,579		$	1,322	$	257		$	—

Duke Energy Florida [Member]

Fair Value Disclosures [Line Items]

Fair Value Measurement Amounts For Assets And Liabilities



	December 31, 2015
(in millions)	Total Fair Value			Level 1		Level 2			Level 3
Nuclear decommissioning trust fund equity securities	$	318		$	318	$	—		$	—
Nuclear decommissioning trust fund debt securities and other	423			285		138			—
Other available-for-sale debt securities and other	51			6		45			—
Derivative assets	7			—		7			—
Total assets	799			609		190			—
Derivative liabilities	(216		)	—		(216		)	—
Net assets (liabilities)	$	583		$	609	$	(26	)	$	—



	December 31, 2014
(in millions)	Total Fair Value			Level 1		Level 2			Level 3
Nuclear decommissioning trust fund equity securities	$	317		$	317	$	—		$	—
Nuclear decommissioning trust fund debt securities and other	489			359		130			—
Other trading and available-for-sale debt securities and other	44			—		44			—
Derivative assets	4			—		4			—
Total assets	854			676		178			—
Derivative liabilities	(241		)	—		(241		)	—
Net assets (liabilities)	$	613		$	676	$	(63	)	$	—

Duke Energy Ohio [Member]

Fair Value Disclosures [Line Items]

Fair Value Measurement Amounts For Assets And Liabilities



	December 31, 2015
(in millions)	Total Fair Value			Level 1		Level 2			Level 3
Derivative assets	$	3		$	—	$	—		$	3
Derivative liabilities	(7		)	—		(7		)	—
Net assets (liabilities)	$	(4	)	$	—	$	(7	)	$	3



	December 31, 2014
(in millions)	Total Fair Value			Level 1			Level 2			Level 3
Derivative assets	$	49		$	20		$	9		$	20
Derivative liabilities	(181		)	(117		)	(26		)	(38		)
Net assets (liabilities)	$	(132	)	$	(97	)	$	(17	)	$	(18	)

Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs

The following table provides a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.



	Derivatives (net)
	Years Ended December 31,
(in millions)	2015			2014
Balance at beginning of period	$	(18	)	$	(4	)
Total pretax realized or unrealized gains (losses) included in earnings	21			(9		)
Purchases, sales, issuances and settlements:
Purchases	5			1
Settlements	(5		)	(13		)
Net transfers In (Out) of Level 3 due to observability of inputs	—			6
Total gains included on the Consolidated Balance Sheet as regulatory assets or liabilities	—			1
Balance at end of period	$	3		$	(18	)

Duke Energy Indiana [Member]

Fair Value Disclosures [Line Items]

Fair Value Measurement Amounts For Assets And Liabilities

The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral, which is disclosed in Note 14. See Note 15 for additional information related to investments by major security type.



	December 31, 2015
(in millions)	Total Fair Value		Level 1		Level 2		Level 3
Other available-for-sale equity securities	$	71	$	71	$	—	$	—
Other available-for-sale debt securities and other	30		2		28		—
Derivative assets	7		—		—		7
Net assets (liabilities)	$	108	$	73	$	28	$	7



	December 31, 2014
(in millions)	Total Fair Value		Level 1		Level 2		Level 3
Other trading and available-for-sale equity securities	$	71	$	71	$	—	$	—
Other trading and available-for-sale debt securities and other	30		—		30		—
Derivative assets	14		—		—		14
Net assets (liabilities)	$	115	$	71	$	30	$	14

Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs

The following table provides a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.



	Derivatives (net)
	Years Ended December 31,
(in millions)	2015			2014
Balance at beginning of period	$	14		$	12
Total pretax realized or unrealized gains included in earnings	—			3
Purchases, sales, issuances and settlements:
Purchases	19			49
Settlements	(30		)	(41		)
Total gains (losses) included on the Consolidated Balance Sheet as regulatory assets or liabilities	4			(9		)
Balance at end of period	$	7		$	14